HOME>FAQ>What Is Staking? Should I Try It?

What Is Staking? Should I Try It?

Staking is where you pledge your crypto as a computational source to help validate proof-of-stake blockchain transactions in exchange for generous rewards.

With Savl, staking is also self-custodial, so your funds are only used for staking purposes, and you control the process every step of the way.

Staking with Savl means you could earn up to 10% APY for doing relatively little, so in our opinion, it is worth a go.

At the time of posting, Savl supports the following currencies for staking:

  • SOL (Solana): currently at 7.5% APY
  • ROSE (Oasis Network): currently at 3% APY
  • VLX (Velas Network): currently at 8% APY

If you want to know more, tap the ‘Services’ icon on the Savl app toolbar and select ‘Staking’. There’s even a rewards calculator so you can get a sense of how staking rewards might work for you.

Note: Staking comes with risk. You'll earn rewards in cryptocurrency, which is a volatile asset that can decrease in value. Additionally, you may have to lock up your crypto for a set period, during which the market value could plummet (or skyrocket).